Arab 100: 1996
Despite measures by some governments to curb expenditure, withdeflationary effects on economic growth, the health of Arab banks remains good.Banks from the Gulf Cooperation Council states, particularly Saudi Arabia and Bahrain, continue to dominate the top 100 rankings. Martin Gallagher and Andrew Ioannou analyze the latest results.
This year's Arab 100 is againdominated by banks based in the six Gulf Cooperation Council (GCC) states,reflecting their relatively large and well-developed economies. GCC-based banksaccount for 66 of the 100 on 1995 figures, up three on the previous year. TheUnited Arab Emirates (UAE) has 19 names, ahead of Saudi Arabia and Bahrain, with14 entries each. Kuwait's share is unchanged at 11, while Oman and Qatar rose tofive and three respectively. The Gulf economies received a boost from higher oilprices in 1995, but growth in the region's private sectors remained subdued asgovernments continued to emphasize cutting high budget deficits. The three stateswith the highest GDP growth rates in the region in 1995 the UAE, Oman andQatar increased their shares of entries in the top 100, while the moresluggish performances of the Bahrain and Saudi Arabian economies is reflected bya smaller representation.